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The Dual Sector model, or the Lewis model, is a model in developmental economics that explains the growth of a developing economy in terms of a labour transition between two sectors, the subsistence or traditional agricultural sector and the capitalist or modern industrial sector.
Sir Arthur Lewis used the concept of a dualistic economy as the basis of his labour supply theory of rural-urban migration. Lewis distinguished between a rural low-income subsistence sector with surplus population, and an expanding urban capitalist sector (see Dual-sector model). The urban economy absorbed labor from rural areas (holding down ...
There are two major forms of structural-change theory: W. Lewis' two-sector surplus model, which views agrarian societies as consisting of large amounts of surplus labor which can be utilized to spur the development of an urbanized industrial sector, and Hollis Chenery's patterns of development approach, which holds that different countries ...
The Lewis turning point is a situation in economic development where surplus rural labor is fully absorbed into the manufacturing sector. This typically causes agricultural and unskilled industrial real wages to rise. The term is named after economist W. Arthur Lewis. Shortly after the Lewis point, an economy requires balanced growth policies. [1]
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Lewis model may refer to: William Arthur Lewis's model of economic development i.e. the dual-sector model; Richard D. Lewis's Lewis Model of Cross-Cultural Communication; Lewis acids and bases, a model proposed by Gilbert N. Lewis; John Lewis Partnership, a British public limited company owned by a trust on behalf of its employees
Two names, one U.S. rape suspect. In November 2022, the Scottish judge overseeing the extradition case ruled that Arthur Knight and Nicholas Alahverdian were the same person — a conclusion he ...
Collage of political strategist, Alex Bruesewitz, and other men in suits including Donald Trump, at the moment Bruesewitz collapsed during a speech.Alex Bruesewitz, a top adviser for President ...